PARIS
French luxury giants LVMH, Hermès and Chanel have decided to temporarily close their boutiques in Russia, which invaded Ukraine on February 24, the firms announced on March 4.
The Hermès group operates three stores in Russia, including one in the Gum department store in Red Square, and employs 60 people in the country.
“Given the situation in the region, LVMH regrets to announce the temporary closure of its stores in Russia from March 6,” an LVMH spokesperson told AFP, affecting some 124 stores.
The group also announced a donation of 5 million euros ($5.5 million) to support the International Committee of the Red Cross (ICRC).
Chanel, which has 17 stores in Russia, said “major uncertainty and operational complexities” led it to temporarily suspend operations in the country.
“We will no longer deliver to Russia, we will close our stores and we have already suspended internet shopping,” the luxury brand said.
Hermès said “it is with regret that we have taken the decision to temporarily close our stores in Russia and suspend all commercial activities from March 4.”
When releasing its financial results last month, Hermès said it planned to open a store in St Petersburg this year, but told AFP on Friday it was “postponed”.
Several multinationals have announced the suspension of their activities in Russia, including the Swedish furniture giant IKEA.
“The war has already had a huge human impact. It is also causing severe disruption to supply chain and trading conditions,” the company said in a statement to AFP on Thursday.
Others that have suspended operations include Intel, Airbnb, ExxonMobil, Apple, Boeing and Ford.
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